China Pioneers Green Hydrogen Revolution: Dominates in Project Implementation and Equipment Manufacturing, IEA Reports

According to the IEA, China is at the forefront of global green hydrogen initiatives and holds a significant stake in equipment production. The IEA reports that China is responsible for 40% of all newly approved low-emission hydrogen production projects in the past year.

The country is boosting its ability to produce electrolysers, devices that utilize green energy to break down water into hydrogen and oxygen. This increase in production should reduce the global cost of these devices, according to the IEA. Electrolysers play an essential role in generating low-pollution hydrogen from renewable or nuclear power.

The total electrolyzer capability that obtained financial support reached 20GW worldwide. This could potentially increase the yearly worldwide production of low-emission hydrogen five times over by 2030, according to the report.

In the previous month, a study conducted by the Hydrogen Council and consulting firm McKinsey stated that the international array of low-carbon hydrogen initiatives that have secured financial support expanded to 434, amassing an investment of US$75 billion this year. This is a significant increase from the 102 projects that required US$10 billion in funding in 2020.